MD Helicopters (MDH), which manufactures the MD 530F, has been acquired by an investment consortium led by MBIA Insurance Corp., Bardin Hill, and MB Global Partners has acquired the company, which has also established new leadership of the company.
Brad Pedersen will lead the team as MD Helicopters' President and CEO. Pedersen brings over 35 years of aerospace experience delivering accelerated growth and financial performance in leadership positions at Boeing Rotorcraft, Sikorsky Aircraft, Breeze-Eastern, and other aerospace and defense companies. Pedersen started his career at Hughes Helicopters and has almost 20 years of Engineering and Leadership experience with the MD Helicopter product lines. He also led the turnaround of several private and publicly owned companies.
"MD Helicopters has been an iconic name in the rotorcraft industry, and we will build on this rich heritage to serve and support our customers worldwide," said Pedersen. "Our immediate focus is to dramatically improve Customer Support, foster strong Supplier Relationships, and implement an aggressive Aircraft Sales Plan."
Pedersen will be supported by a highly experienced Board of Directors comprised of aerospace and defence executives and significant financial expertise:
Edward Dolanski is the new Chairman of the Board. Dolanski is a Fortune 50 business executive with 30-plus years of experience leading organisations through performance turnarounds and into sustained growth. Dolanski's experience includes President, Boeing Government Services, President & CEO Aviall (a Boeing company), and Vice President, Raytheon Aircraft Company (Hawker Beechcraft Customer Support / Aftermarket).
GEN (ret.) Gustave Perna joins the company as a Board Member (chair, governance & compliance committee). Perna served as Chief Operating Officer for Operation Warp Speed, in which he co-led the partnership of government, academia, and industry to successfully accelerate the development, manufacturing, and distribution of COVID-19 vaccines and therapeutics for the US. As Commander of US Army Materiel Command (AMC), he was responsible for installations, logistics, sustainment, and materiel readiness around the world.
Paul "Flip" Huffard is a Board Member (chair, audit committee), who is a restructuring veteran with extensive financial management experience including as Senior Managing Director at Blackstone's Restructuring and Reorganization Group.
New board member, Anthony McKiernan, is Chairman and Chief Financial Officer of MBIA Insurance Corp. President and Chief Risk Officer of MBIA Corp, Daniel Avitabile, also joins the board as does John Greene, Partner and Portfolio Manager at Bardin Hill Investment Partners.